Loan Comparison: 2.94% vs 6.5%
3845 Eaton Park, Aurora, CO 80019 · 4bd/4ba · $699,999
List Price
$699,999
Assumable Rate
2.94%
Remaining Balance
$541,760
Equity Gap
$158,239
Loan Type
FHAAdjust Your Scenario
$35,000
$35,000$158,239
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.94% + gap loan
$3,214/moAssumed loan: $2,267/mo
Gap financing: $948/mo
$989less per month with the assumable
Your Savings on This Property
3845 Eaton Park, Aurora · 2.94% FHA vs 6.5% conventional
$989
per month
$11,869
per year
$356,060
over 30 years
$356,060
interest saved
How gap financing works: The equity gap ($158,239) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($123,239 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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